EU watchdogs urge tougher AI cyber risk controls for financial sector

Europe’s three financial supervisory authorities have called for stronger governance, enhanced operational resilience and a more consistent supervisory approach to protect the European Union’s financial sector from the growing cyber risks posed by advanced artificial intelligence models.

In a joint statement, the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA) and the European Securities and Markets Authority (ESMA) said the rapid...